Question
The president of a college has been told that when they raised their tuition by 2% the previous year, total revenue from tuition remained unchanged.
The president of a college has been told that when they raised their tuition by 2% the previous year, total revenue from tuition remained unchanged. Assuming the change in revenue is due to the change in tuition only, the president could conclude that price elasticity of demand for that college, over that tuition (price) range, must be (in absolute value):
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Quality Inspired Management The Key to Sustainability
Authors: Harold Aikens
1st edition
131197568, 978-0131197565
